Additional information for the 2018 fiscal year ($ in thousands):

1. Cash dividends of $2,300 were declared and paid.
2. Equipment costing $6,600 was purchased with cash.
3. Equipment with a book value of $1,800 (cost of $4,100 less accumulated depreciation of $2,300) was sold for $1,800.
4. Depreciation of $2,900 is included in operating expenses.

Required: Prepare Santana Industries' 2018 statement of cash flows, using the indirect method to present cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)

SANTANA INDUSTRIES Income Statement $22,850 For the Year Ended December 31, 2018 ($ in thousands) Sales revenue $ 16,850 Service revenue 6,000 Total revenue Operating expenses: Cost of goods sold 8,500 Selling 3,700 General and administrative 2,800 Total operating expenses Operating income Interest expense Income before income taxes 15,000 7,850 330 7,520 3,800 Income tax expense Net income $ 3,720 Dec. 31, Dec. 31, 2017 Balance Sheet Information ($ in thousands) 2018 Assets: Cash $ 8,650 Accounts receivable 5,180 6,600 $ 3,370 3,5ee 4,300 280 560 Inventory Prepaid rent Plant and equipment Less: Accumulated depreciation 17,180 (6,480) $ 31,330 14,6ee (5,800) $ 20,530 Total assets Liabilities and Shareholders' Equity: Accounts payable Interest payable Deferred service revenue Income taxes payable Loan payable (due 12/31/2020) Common stock $ 4,800 230 1,060 $ 2,400 @ 730 689 1,860 7,600 11,380 6,460 11,300 5,840 Retained earnings Total liabilities and shareholders' equity $ 31,330 $ 20,530